Prepare an - Adjusted trial balance - Income statement - Balance sheet - Retained earnings statement using the instructions and information provided:

A. The 3/1/17 Notes Payable principle from Chase Bank is due in 4 years at an annual interest rate of 6%. Interest must be paid every 6-months.

B. The boat purchased on 3/1/17 is depreciated using the straight-line method over a useful life of 9 years. Salvage is zero.

C. Insurance expense was recorded.

D. Due to the use of office supplies, the Office Supplies and lures only added up to $1,000 at the end of the 2017 year.

E. On 12/30/17, 25% of the services were provided early from the customers that paid cash on 5/1/17.

NOTE: Adjusting journal entries have been completed.

Shark Bait Unadjusted Trial Balance December 31, 2017 Debit Credit Cash Office Supplies/Lures Prepaid Insurance Equipment - Boat Accumulated Depreciation Accounts Payable Unearned Revenue Notes Payable Common Stock Additional Paid in Capital - CS Sales Revenue Interest Expense Salaries Expense Utilities Expense Boat Gas Expense Depreciation Expense 161,320 9,100 4,000 24,000 4,800 14,000 16,000 35,000 93,000 56,000 480 4,500 3,400 12,000 Total 2 218,800 218,800